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Dec 27, 2012
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here, if you're just joining us once again, a breaking story out of washington. seemingly hopeful story. the house announcing it will reconvene sunday evening. bring everybody back at that time and presumably to consider some deal that may come out of the senate at that point. whether or not that happens, the market is not waiting to see the whites of their eyes. the dow was down 150 points at the low of the session and now we're down just 15 points. the dow was positive moments ago. >> really was, and the volatility index, aka the wall street fear gauge, was above 20 earlier on this morning for the first time in many months. it's now 19.22. obviously a little bit of fear coming out of market. let's get more of what's going on in the markets and what's going on in terms of traders feelings about the hope of sunday night. laura myers is from dme securities. what did you think and what did you do when you heard about the house reconveneing? >> you have to realize how event-driven this market really is. everyone is walking on eggshells about what's really going to h
here, if you're just joining us once again, a breaking story out of washington. seemingly hopeful story. the house announcing it will reconvene sunday evening. bring everybody back at that time and presumably to consider some deal that may come out of the senate at that point. whether or not that happens, the market is not waiting to see the whites of their eyes. the dow was down 150 points at the low of the session and now we're down just 15 points. the dow was positive moments ago. >>...
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Dec 27, 2012
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you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how would you invest, and when you recognize that none of us probably know and got it wrong the last time the debt ceiling came around. still be conservative and get some great balance sheet, but some names like john ehrlichman. could go savnlt these are names with big balance sheets will last you through to the. >> rick santelli, we spoke to you earlier on the show, did i get the impression that you're feeling a little more helpful? are you feelingmore so after speaking with the senators. >> i think the party will be with the parties doing the right place to actual
you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how...
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Dec 31, 2012
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there'll be more coming out of washington. in the meantime, we just closed out the trading year for 2012. as the dust settles, courtney reagan now breaks down what was i would say among the developed markets a pretty good year for stocks. >> not that bad. lots of green. we're ending on a high note today. all three indexes closing up today and for 2012. the nasdaq the biggest winner. up almost 16%. the s&p notches a 13.4% gain. and the dow up 7.3% for 2012. when it comes to the blue chips, there was some flip-flopping going on. the biggest gainer last year, the biggest dog of the dow. bank of america. doubled in price this year as the bank improved its financial footing. home depot and disney all saw strong earnings. consumers proved resilient in 2012. jpmorgan another of last year's dogs round out the top five with all big double digit percentage increases. if you look at the numbers, bank of america up a whopping 108%. home depot up 46%. now, hewlett-packard, the dow's second biggest loser in 2011 is this year's worst perform
there'll be more coming out of washington. in the meantime, we just closed out the trading year for 2012. as the dust settles, courtney reagan now breaks down what was i would say among the developed markets a pretty good year for stocks. >> not that bad. lots of green. we're ending on a high note today. all three indexes closing up today and for 2012. the nasdaq the biggest winner. up almost 16%. the s&p notches a 13.4% gain. and the dow up 7.3% for 2012. when it comes to the blue...
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Dec 10, 2012
12/12
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until we get a clearer signal out of washington. >> yes. and i think we're going to see this narrow trading range. if there's no resolution, i think the market might react negatively. but i think that's a short-term negative term. but i do think that's a negative possibility. and i do think there's a possibility nothing will come out. >> meantime, the economic reports coming out starting to soften a bit here. do you make of that? >> it's not surprising. i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
until we get a clearer signal out of washington. >> yes. and i think we're going to see this narrow trading range. if there's no resolution, i think the market might react negatively. but i think that's a short-term negative term. but i do think that's a negative possibility. and i do think there's a possibility nothing will come out. >> meantime, the economic reports coming out starting to soften a bit here. do you make of that? >> it's not surprising. i don't think the...
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Dec 7, 2012
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we have so much uncertainty in washington. we do have slowing economies in europe and in the u.s. >> right. david, what do you say right now? break the tie for us. >> break the tie. in the near term, there's an epic tug of war between extremely aggressive monetary easing and just total disdain for what they're doing in washington on tax and regulatory policy. in the near term, the fiscal cliff prevails. in the longer term, the fed will prevail. there's so much mistrust on stocks that i think that still can be a positive catalyst for stocks relative to traditional bonds over the next 12 months. >> i'm going to push back a little bit on that. >> i'm going to break the tie in ralph's favor. >> david, i want to push back a little bit on that. in terms of -- like, is the fed really that much of a factor these days now in terms of keeping the market afloat? >> absolutely. >> it's not losing its bang for its buck? >> it's not as powerful as it was in the fall of 2008 or even 2010, but when you consider that, u.s., long bonds, 1.5%. s
we have so much uncertainty in washington. we do have slowing economies in europe and in the u.s. >> right. david, what do you say right now? break the tie for us. >> break the tie. in the near term, there's an epic tug of war between extremely aggressive monetary easing and just total disdain for what they're doing in washington on tax and regulatory policy. in the near term, the fiscal cliff prevails. in the longer term, the fed will prevail. there's so much mistrust on stocks...
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Dec 6, 2012
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i doubt our elected officials would be brazen enough to leave washington without an agreement? this is my hunch. if, and that is an if we are going to see a deal, i suspect it'll come in the next two weeks. if we know anything about d.c. lawmakers, their time off may be more of a sacred cow than the belief on tax and spending. if i'm right, it's too bad that their own self-interests motivate them more. >>> before we look the a the day on wall street. and it was a quiet day. at the end of the day, we did see the markets get a good lift up about 40 points on the industrial average. nasdaq composite picked up 15 1/2 points. and the s&p tonight gain of 4.5% points, check out apple today, we did see a bit of a rebound after the big selloff yesterday. apple continues to trade higher in realtime, up 1.5% on apple at
i doubt our elected officials would be brazen enough to leave washington without an agreement? this is my hunch. if, and that is an if we are going to see a deal, i suspect it'll come in the next two weeks. if we know anything about d.c. lawmakers, their time off may be more of a sacred cow than the belief on tax and spending. if i'm right, it's too bad that their own self-interests motivate them more. >>> before we look the a the day on wall street. and it was a quiet day. at the end...
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Dec 13, 2012
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you have to be in washington. >> you know what? i've been hearing some of the analysts say that is a powerful impetus to get a deal done. they don't want to be here for christmas eve, right? >> would the president negotiate from hawaii? he's supposed to go to hawaii on december 17th. >> they have telephones in hawaii, i can tell you. >> no credibility. you have to be in washington. america will not stand for that, for these guys being on vacation. >> nancy pelosi said the deadline is early next week. >> if we don't have a deal by the end of next week, no deal to go over the cliff. >> let's do the countdown. down about 54 points. >> meanwhile, michigan is becoming the 24th right-to-work state here in the country. someone here says unions are toxic for both workers and companies. we'll tell you all about it. stay with us. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling
you have to be in washington. >> you know what? i've been hearing some of the analysts say that is a powerful impetus to get a deal done. they don't want to be here for christmas eve, right? >> would the president negotiate from hawaii? he's supposed to go to hawaii on december 17th. >> they have telephones in hawaii, i can tell you. >> no credibility. you have to be in washington. america will not stand for that, for these guys being on vacation. >> nancy pelosi...
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Dec 3, 2012
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guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we don't have here is a lot of detail hanging off this christmas tree at this point. we're looking at a couple of bullet points being released now in terms of the scale of the deal. it gives us overall broad numbers. presumably negotiators would have to go in and fill in details of how they're get that kind of savings. there have been a lot of proposals on health of finding billions of dollars of savings by reducing overhead and other things like that. you've seen the unions come out and say they don't want to see any changes at all that would hurt payoffs to benefi
guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i...
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Dec 26, 2012
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you know, you have to remember, i sit here in washington, d.c. and of course, the line of course on "squawk box" this morning was lawmakers are much more inclined to say i was there to lower your taxes and i didn't vote to raise your taxes. as simplistic as that is, i think it's true so i think they let us go over and then cut the taxes and they undo all the good the cliff could actually do. >> but there's no real spending cuts. that's part of the problem. it's all talk. there's no real cuts in the cliff. >> you guys sound like congress. keep on arguing behind the scenes. enjoy yourselves. thank you so much, michael. peter, you're sticking around. >>> meantime, the fiscal cliff may be a big deal but there is another threat out there which might be in the short term more risky. the container cliff. businesses up and down the eastern seaboard are bracing for a massive port showdown as unions threaten to strike and possibly shut down most imports and exports out of this country. let's add in cnbc contributor jimmy peeb. we focus so much on the fisca
you know, you have to remember, i sit here in washington, d.c. and of course, the line of course on "squawk box" this morning was lawmakers are much more inclined to say i was there to lower your taxes and i didn't vote to raise your taxes. as simplistic as that is, i think it's true so i think they let us go over and then cut the taxes and they undo all the good the cliff could actually do. >> but there's no real spending cuts. that's part of the problem. it's all talk. there's...
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Dec 21, 2012
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we're not closer to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down right now. down 1.25%. the technology sector is taking a bigger hit today. down to 3,012 on the nasdaq and the s&p 500 index is down 1% at 1428. . >> house speaker john boehner says he's still open to a offer from the democrats. >> it was a dramatic evening last night. john harwood was there. he has the latest on the on talks. are there any talks, john? >> i think so. but they're pretty muted. this bill was not win of those weeks that makes washington look good. come to think of it, there aren't many weeks that make washington look good. but this was e
we're not closer to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down...
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Dec 26, 2012
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we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. the nasdaq hardest hit today. technology has been very volatile recently. still down a fraction right now. 13 points, fraction percentage-wise and the s&p is down 3.33 at 1423. five days left until the fiscal cliff deadline, and though the market has been very resilient to this point, what happens if we go over the cliff and if lawmakers cannot get it together come january 1st? will it be a big meltdown for wall street? that's what everybody wants to know. >> certainly hope know. in today's "closing bell" exchange, former
we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the...
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Dec 21, 2012
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i want to show you a shot of washington. president obama will address fiscal cliff issues in about 30 minutes. we will take you there live to hear the president's comments on the fiscal cliff negotiations. >>> meanwhile, a mafs winter storm sweeping across the country once again. up next, find out which stocks could get forgot bite and which could benefit from this winter. coming up, break down the trade for you with "options actions. " card hassles? introducing chase liquid. the reloadable card that's easy to activate and can be used right away. plus, you can load cash or checks at any chase depositfriendly atm and checks right from your smartphone. get rid of prepaid problems. get chase liquid. . >>> winter strong draco shutting down flights out of on chicago. the weather channel's paul walsh joins us with the business impact here. paul, the holidays are a crucial time for many businesses. who is being impacted the most weekend? >> yeah. interestingly maria, the weather this year is largely impacting business by the weathe
i want to show you a shot of washington. president obama will address fiscal cliff issues in about 30 minutes. we will take you there live to hear the president's comments on the fiscal cliff negotiations. >>> meanwhile, a mafs winter storm sweeping across the country once again. up next, find out which stocks could get forgot bite and which could benefit from this winter. coming up, break down the trade for you with "options actions. " card hassles? introducing chase liquid....
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Dec 11, 2012
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the guys in washington need a little bit of lesson. the tape is telling them if they get it right we'll go higher. every time they shoot off their mouth and disappoint market it's a clear signal they will do something wrong and the market will tell them very clearly it's going down. >> we have highlighted the two model portfolios our research team put together on the fiscal cliff. lately the one that says we won't go over t
the guys in washington need a little bit of lesson. the tape is telling them if they get it right we'll go higher. every time they shoot off their mouth and disappoint market it's a clear signal they will do something wrong and the market will tell them very clearly it's going down. >> we have highlighted the two model portfolios our research team put together on the fiscal cliff. lately the one that says we won't go over t
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Dec 18, 2012
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the more wall street washington is rising above, the higher the market goes. >> rejection of how john boehner's plan "b" thatty had came out with today. the major averages are all trading around two-month highs today because it seems like progress is still being made on some kind of a deal. here's where we stand right now. the dow up 98 points, was up 125 at the high, and then the white house rejected and some comments by senate majority leader harry reid on that so-called plan "b" proposal from john boehner, sort of took some of the wind out of the sails. nasdaq still up 1.25%, a 3348 and the s&p 500 index is up 12-plus points right now at 1443. >> while the dow on pace for the first back-to-back triple-digit gains in nearly five months. can we hold on for the final hour? >> let's talk about that in our closing bell exchange. carol roth, the author of "entrepreneurial equation" is with us. from chicago, keith springer from springer financial adviser and john carpina is on the floor with us, and rick santelli, of course, is in chicago as well. carol, you've been skeptical about this m
the more wall street washington is rising above, the higher the market goes. >> rejection of how john boehner's plan "b" thatty had came out with today. the major averages are all trading around two-month highs today because it seems like progress is still being made on some kind of a deal. here's where we stand right now. the dow up 98 points, was up 125 at the high, and then the white house rejected and some comments by senate majority leader harry reid on that so-called plan...
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Dec 18, 2012
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we're dealing with washington here. this is not common sense. we're dealing with politicians whose main objective almost every time they are confronted with a problem is to kick the can down the road. that's what they have been doing for decades, at least the last 12 years. tell everybody to stop, let's pause, let's confront our problems rather than keep raising the debt limit. >> generally speaking, over reacting about the deficit, once we get to normal growth it will pay itself down over time. is that school of thinking right? >> no, i don't think so. i think what we're facing is over the long run. now, not immediately. but over the next couple of decades, we have a very big problem. we have built into our federal spending commitments more spending than our revenues will afford. that's because of the combination of this big generation retiring, the baby boomers that everybody talks about multiplied by the cost of health care. health care is the big problem not only in the federal budget but in all budgets. if you stick with the commitments we'
we're dealing with washington here. this is not common sense. we're dealing with politicians whose main objective almost every time they are confronted with a problem is to kick the can down the road. that's what they have been doing for decades, at least the last 12 years. tell everybody to stop, let's pause, let's confront our problems rather than keep raising the debt limit. >> generally speaking, over reacting about the deficit, once we get to normal growth it will pay itself down...
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Dec 20, 2012
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. >> a look at what's happening in washington, scott? >> we should. let's take a live look at capitol hill where the house of representatives is preparing to vote on speaker paperer's plan "b" budget proposal. our other big story. does it have a chance of passing the senate before the deadline? we'll talk to senator ben cardin next. >> transformed indiana's budget deficit into a surplus of around $500 million. governor mish danneels explains what congress need to do to overcome the nation's debt crisis. >> and coming up, is the sky the limit now that they have sold their shares the? more later on the "closing bell." >>> welcome back. here's a live picture of the house. the house hours away from voting on speaker painer's proposal to extend tax cuts for those making less than $1 million a year. we're waiting on this bill to pass the house, and it's probably dead on arrival in the senate. scott? >> another vote that you are watching go through a bunch of procedural things as well. i heard 7:00 to 8:00 tonight maybe is when they would vote on this plan "
. >> a look at what's happening in washington, scott? >> we should. let's take a live look at capitol hill where the house of representatives is preparing to vote on speaker paperer's plan "b" budget proposal. our other big story. does it have a chance of passing the senate before the deadline? we'll talk to senator ben cardin next. >> transformed indiana's budget deficit into a surplus of around $500 million. governor mish danneels explains what congress need to do...
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Dec 24, 2012
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we are talking about austerity programs coming out of washington. what is going to propel this market higher if we're going to get a slowdown in the economy next year? >> the bottom line, i think the market is a lot smarter than any of us on this panel and i've been really amazed how resilient the market is here. it is holding up extremely well. we may not get a deal -- i doubt we get a deal friday. i think the market has already taken that into account. the bottom line, stocks aren't over priced. there is a lot of opportunity, at hodges capital we see companies, you know, trading at seven and eight times earnings that are growing three times that rate. like a cirrus logic that is going to earn 350 next year, stocks at 28. that's about eight times earnings. you know, there is a lot of opportunity out there. >> right. >> i don't think you can treat the market as just the market. look at each stock individually. there's opportunity. it's under owned. there are chances to make some serious money next year. look at this year. this year, hardly any good
we are talking about austerity programs coming out of washington. what is going to propel this market higher if we're going to get a slowdown in the economy next year? >> the bottom line, i think the market is a lot smarter than any of us on this panel and i've been really amazed how resilient the market is here. it is holding up extremely well. we may not get a deal -- i doubt we get a deal friday. i think the market has already taken that into account. the bottom line, stocks aren't...
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Dec 26, 2012
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it's an embarrassment how washington is acting. i am begging somebody in washington, step up. be accountable. take responsibility. solve the root cause of these issues. get smart about your weight. >>> the graphic says it, market flash. welcome back to the program. let's look at best buy. the stock's not moving higher, but there are positive comments out there. rare positive comments from an analyst about the store upgrades. bby has been remodeling a number of stores. david chick says they are a real improvement from the old stores. he visited a bunch post, pre, and post remodel. he thinks these are pretty good. he believes they can help with the magnolia sales. their higher end store within a store. making positive comments about these remodels. still, not really helping the stock today. bby shares are down 33% just this quarter. seems like a buyout may be the only big-time hope for bby in the near term. >> brian, thank you for that. currency wars are back. japan's new prime minister is warning the bank of japan had must match efforts by both the u.s. fed and ecb to weaken th
it's an embarrassment how washington is acting. i am begging somebody in washington, step up. be accountable. take responsibility. solve the root cause of these issues. get smart about your weight. >>> the graphic says it, market flash. welcome back to the program. let's look at best buy. the stock's not moving higher, but there are positive comments out there. rare positive comments from an analyst about the store upgrades. bby has been remodeling a number of stores. david chick says...
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Dec 27, 2012
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they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i served in the house of representatives. there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. everyone knows, including the speaker of the house house of representatives today, that if they had brought the house -- i'm sorry, the senate-passed bill that would give relief to everyone making less than $250,000 a year, it would pass overwhelmingly. every democratic would vote for it and republicans would vote for it. but the speaker, he says no, we can't do that t ha
they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i...
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Dec 31, 2012
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john harwood in washington. i want to bring you up to date on the latest of the talks between vice president biden and mitch mcconnell. there's some concern among democrats who have heard that the income threshold for tax rate increases may be going up to 400, 450, $500,000. a source familiar with the talks just phoned me to say the democrats are only considering that under a couple of conditions. one is that if the threshold goes up to that level, the top income tax rate would go all the way back up to the clinton era rate of 39.6%. not some mid point of 37% talked about a couple of weeks ago. secondly, that it would be accompanied by more revenue from the estate tax than is happening under current policy. remember, current policy is 35% tax on estates of $35 million or more. democrats are going to be insisting on somewhat more revenue than that, if not all the way up to the level in president obama's budget. finally, that an agreement would include a significant extension of unemployment benefits. remember, th
john harwood in washington. i want to bring you up to date on the latest of the talks between vice president biden and mitch mcconnell. there's some concern among democrats who have heard that the income threshold for tax rate increases may be going up to 400, 450, $500,000. a source familiar with the talks just phoned me to say the democrats are only considering that under a couple of conditions. one is that if the threshold goes up to that level, the top income tax rate would go all the way...
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Dec 28, 2012
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a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an environment of a slow, recovering economy. >> right. >> europe having ring fenced their problems. not solved them. but ring fenced them. and we're seeing the actions of the banks making their changes. it apyrpears to us we're at the early stage of a capital markets recovery as you start seeing the solutions work their way through. >> right. >> in to 2014 retailer investor begin to move into equities and out of fixed income. >> we can only hope. >> yeah. so let me ask you with that. do you go with those where margins are highest like a goldman? do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is goi
a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an environment of a slow, recovering economy. >> right. >> europe having ring fenced their problems. not solved them. but ring fenced them. and we're seeing the actions of the banks making their changes. it apyrpears to us we're...
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Dec 18, 2012
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can washington rise above in trying to get a deal done? we'll go to washington for the latest. and can kkr global get a deal? and then every child's favorite shopping location, toys "r" us staying opened for 88 hours straight. can the toy titan keep up with the likes of macy's? the ceo will join us live. we'll start with the cliff, though. house speaker boehner remaining hopeful that a deal can be reached but that the president has yet to offer what he's calling a balanced plan. our aim economy monday jaf verse is live. good morning. >> reporter: good morning. briefing them on where they stand on fiscal cliff negotiations with the president and floated this idea of a two-track process where they would go ahead with a plan b option. take a listen to the speaker talking about what this plan b would actually be. >> our plan b would protect the american taxpayers who make a million dollars or less and have all of their current rates extended. i continue to have hope that we can reach a broader agreement with the white house that would reduce spending as well as revenues on the tabl
can washington rise above in trying to get a deal done? we'll go to washington for the latest. and can kkr global get a deal? and then every child's favorite shopping location, toys "r" us staying opened for 88 hours straight. can the toy titan keep up with the likes of macy's? the ceo will join us live. we'll start with the cliff, though. house speaker boehner remaining hopeful that a deal can be reached but that the president has yet to offer what he's calling a balanced plan. our...
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Dec 21, 2012
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because it's not great in washington. because it hasn't been great in washington. there was a perception when president obama won fairly big, that it would improve in washington. but the people who were voting on this are beholding to their constituents and have taken a no-tax increase pledge. the president won a lot of votes, and it just doesn't work like that. >> we'll be seat agnew congress in -- we'll be seating a new congress in the new year. the house will be republican, the senate will be democrat, but not the 60 votes to override -- >> but we have to give back some of -- people are buying stocks because they thought there was going to be a deal. they have to rethink that. i mean, a lot of hedge funds are thinking, i'm okay, there's really no news between now -- there's a pact among all the research firms, don't issue anything, don't do sells. these guys are obviously not focused on that in washington. you have to roll back some of what's happening. >> right. >> some of what's been good. not all of it -- why were you laughing when i said you said panic was a
because it's not great in washington. because it hasn't been great in washington. there was a perception when president obama won fairly big, that it would improve in washington. but the people who were voting on this are beholding to their constituents and have taken a no-tax increase pledge. the president won a lot of votes, and it just doesn't work like that. >> we'll be seat agnew congress in -- we'll be seating a new congress in the new year. the house will be republican, the senate...
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Dec 7, 2012
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>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for weed as if you just snapped your fingers. how do you make sure this stays out of the hands of those who are under 21? >> well, we've seen in colorado already a fully regulated market that is serving 120,000 medical marijuana patients and no reports of any marijuana being diverted from those stores to teens and moreover while the use of marijuana among teens has gone up 11% nationally, it's actually gone over the past two years 11% in colorado. so what we see is a regulated market that can keep marijuana out of the hands of teens and we hope the federal government and president obama don't stand in the way of p
>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for...
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Dec 24, 2012
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hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana
hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one...
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Dec 12, 2012
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let's get some breaking news in washington. ayman? >> carl, this is actually breaking political news. today announcing new regulations on so-called 501 tax-exempt organizations that engaged in electioneering under federal law as it stands right now, they're allowed to engage in electioneering and not reveal who their donors are. now schneiderman in new york saying the state is going to require them to reveal if they spend up to $10,000 in that state. the groups that spend at least $10,000 to influence state and local elections in new york will be required to file itemized schedules and disclose their donors. potentially interesting move here by new york state. we'll have to see if other states follow this one, carl. >> nonprofits have a lot to deal with. >> oh, boy. >> thank you for that. before we go, jim, tonight -- >> first time since the cooper acquisition, they've become a power management company. mark papa, he's been on my show. he's at the heart of why we're becoming a great energy producer again, because he's got both eaglefo
let's get some breaking news in washington. ayman? >> carl, this is actually breaking political news. today announcing new regulations on so-called 501 tax-exempt organizations that engaged in electioneering under federal law as it stands right now, they're allowed to engage in electioneering and not reveal who their donors are. now schneiderman in new york saying the state is going to require them to reveal if they spend up to $10,000 in that state. the groups that spend at least $10,000...
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Dec 13, 2012
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>>> if you think there is disfunction in washington? check out this video from the ukrainian parliament. we will tell you what they are fighting about. it might surprise you. that's next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. >>> corporate leaders firing another warning over the fiscal cliff. kenneth frasier staying new price controls on drugs are put into place as part of budget negotiations it could hamper innovation in the pharmaceutical industry, mak
>>> if you think there is disfunction in washington? check out this video from the ukrainian parliament. we will tell you what they are fighting about. it might surprise you. that's next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. she also likes...
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Dec 10, 2012
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we'll start in washington. president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the republican unity. that suggests we may be getting to the next phase of negotiations. the latest sign was possible corker, the senator from tennessee, who was on our air just a few minutes ago, as you know, saying republicans should concede ground on top tax rates and then get on to other issues. >> the best place for republicans to be, to me, is to pass the rate of rate increases, be done with it, the numbers aprobably much smaller than is going to ultimately be negotiated, and then we still are focused on the right thing, which is enti
we'll start in washington. president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the...
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Dec 31, 2012
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and gridlock in washington. we'll tell you what happens after the first of the year. >>> let's get a check on the markets. scott joins us from the cme in chicago. the senior vice president at preon group. scott, question for you, we've been looking for a bigger reaction in the futures. we thought if we got to the last day and there was no deal the markets would have a much bigger sell-off. is this something that the market says yes, we think there will be a deal reached at least sometime over the next several days? >> yeah, i think the market does think there will be a deal ultimately reached. the market is afraid that it's not going to be a very good deal. we could have a preverse reaction where we go over the cliff but the cliff is clarity and we can work from there. if we get a band-aid deal the market will take that worse than even going over the cliff. it will be interesting to see how that shakes out. but ultimately i think the guys behind me right now, we want to find out what's going to happen with the 1
and gridlock in washington. we'll tell you what happens after the first of the year. >>> let's get a check on the markets. scott joins us from the cme in chicago. the senior vice president at preon group. scott, question for you, we've been looking for a bigger reaction in the futures. we thought if we got to the last day and there was no deal the markets would have a much bigger sell-off. is this something that the market says yes, we think there will be a deal reached at least...
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Dec 19, 2012
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john harwood in washington. chief market strategist with russell investments joining us here at post 9, and the chief national investment strategist with wells fargo advisers. good morning to both of you. >> good morning. >> how does this weigh on your thesis for the near term? >> the question is in the details. our base case for the russell forecast is we do not have a recession in 2013. the majority of these larger issues are dealt with. but there's going to be a fiscal drag either way. the way we see this at housing contributing in a positive to the economy, offset a lot of the fiscal destabilizers. but i think there's a lot of overlap right now. they're squabbling over details. i think we need to keep in perspective, this is the first time in america we've m a serious substantive conversation about balancing the budget. it's not a bad first start. >> next year you're looking for 1,500 by year end? >> that's our target sale. single digits for the equity market seems reasonable. no great shakes. >> paul, you'r
john harwood in washington. chief market strategist with russell investments joining us here at post 9, and the chief national investment strategist with wells fargo advisers. good morning to both of you. >> good morning. >> how does this weigh on your thesis for the near term? >> the question is in the details. our base case for the russell forecast is we do not have a recession in 2013. the majority of these larger issues are dealt with. but there's going to be a fiscal drag...
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when we come back who do americans really hold responsible for gridlock in washington? we'll find out. >>> co-chair of the campaign to fix the debt former senator judd gregg joins us live to tell us why congressional leadership could be standing in the way of a solution. >>> first rick santelli is working for something later on in the hour. >> in about ten minutes we're going to have ira harris and have some interesting topics. ira harris has a notion of who may be most impacted if we go over the fiscal cliff and i don't think you'll be expecting the answer he'll give and touch on mario draghi and ecb, maybe a little berlusconi all coming up in ten minutes. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more i
when we come back who do americans really hold responsible for gridlock in washington? we'll find out. >>> co-chair of the campaign to fix the debt former senator judd gregg joins us live to tell us why congressional leadership could be standing in the way of a solution. >>> first rick santelli is working for something later on in the hour. >> in about ten minutes we're going to have ira harris and have some interesting topics. ira harris has a notion of who may be most...
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Dec 20, 2012
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chief washington correspondent john harwood is in d.c. with the latest. we can only hope today is as interesting as yesterday was, john. >> yeah, maybe a little bit more blow ducktive as well. what we have got john boehner trying to -- facing resistance within his caucus, trying to rally them to a position that -- of political safety as against president obama. so what he has got with plan b is a two-part approach. one has about 200 billion dollars in cuts too avert the sequester, which would hit the pentagon very hard, something republicans don't want. it's loaded up with politically volatile things democrats could never accept, cuts to food stamps, cuts to obama care, that sort of thing. then he has also got a tax cut for everybody under $1 million in income. so, that extends the bush tax cuts but for many more people than the president wants to. he said he is going to veto this approach. this it is a challenge for the speaker to get the votes to pass it because many republicans don't want to go, carl, for any tax increase for anyone, including milliona
chief washington correspondent john harwood is in d.c. with the latest. we can only hope today is as interesting as yesterday was, john. >> yeah, maybe a little bit more blow ducktive as well. what we have got john boehner trying to -- facing resistance within his caucus, trying to rally them to a position that -- of political safety as against president obama. so what he has got with plan b is a two-part approach. one has about 200 billion dollars in cuts too avert the sequester, which...
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Dec 14, 2012
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with brian moynihan in washington. laying out a frimwork where mortgage deduction is not hurt, or not taken away, not limited by any means by capitol hill. >> there's a lot of worries about the interest margin for all the banks. the banks did well. it's an inexpensive stock. >> and monster run the past year 689 monster run. >> huge run. countrywide did not. ever since buffett -- buffett is a brilliant investor. warren buffett got that preferred. called the bottom on the bank of america. >> dow sitting on a four-point gain. apple not that far away from the november lows of 505. last check at 514. here's what's next on "squawk on the street." >> coming up, before you start taking off your friday trades, listen to what cramer says. don't worry, it will only take a minute. 6 stocks in 60 minutes, "squawk on the street" will be right back. with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at
with brian moynihan in washington. laying out a frimwork where mortgage deduction is not hurt, or not taken away, not limited by any means by capitol hill. >> there's a lot of worries about the interest margin for all the banks. the banks did well. it's an inexpensive stock. >> and monster run the past year 689 monster run. >> huge run. countrywide did not. ever since buffett -- buffett is a brilliant investor. warren buffett got that preferred. called the bottom on the bank...
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Dec 17, 2012
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you might have some news from washington as well. a white house official telling nbc news that the president and house speaker boehner are meeting at the white house as we speak to discuss the fiscal cliff. dow popped on that news when it first broke on some of the wires. currently sitting close to highs of the session up about 85 points. want to bring you the latest details on the newtown connecticut shootings. the town is grieving after the horrific events at sandy hook elementary on friday that left 20 children dead. danielle leigh is live in newtown with the latest. >> good morning. and today is the beginning of a very hard week ahead as families begin saying good-bye to their loved ones and burying those victims who did not survive this tragedy. the first funeral will be today for those victims, starting very soon. the first for 6-year-old nora whose twin sister survived the shooting in a different classroom and 6-year-old jack pinto who was a big new york giants fan. these parents burying their children, something no parent sho
you might have some news from washington as well. a white house official telling nbc news that the president and house speaker boehner are meeting at the white house as we speak to discuss the fiscal cliff. dow popped on that news when it first broke on some of the wires. currently sitting close to highs of the session up about 85 points. want to bring you the latest details on the newtown connecticut shootings. the town is grieving after the horrific events at sandy hook elementary on friday...
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Dec 3, 2012
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dave, you are headed to washington. let us know what's happening. >> he's going to fix it. >> we're going to have pizza. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> led zeppelin to wash away monday blues. congrats to the band for winning kennedy center honors last night. welcome to "squawk on the street." i'm carl quintanilla along with jim cramer, david faber live at nyse. melissa will join us in the next hour. we're kicking off the month of december with strength. anticipating good auto numbers today. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad.
dave, you are headed to washington. let us know what's happening. >> he's going to fix it. >> we're going to have pizza. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> led zeppelin to wash away monday blues. congrats to the band for winning kennedy center honors last night. welcome to "squawk on the street." i'm carl quintanilla along with jim cramer, david faber live at nyse. melissa will join us in the next hour. we're...
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Dec 24, 2012
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we don't have a plan in washington. nominal gdp growth is 4% which would be something like recession in any other time over the past 50 or 60 years. so you're already recession-like types of -- >> you mean nominal levels? >> nominal is, you know, real plus inflation. >> right. >> and the fiscal cliff business is a big deal. it's a potentially big game changer. i didn't think there was a chance we would go over really until the last couple of days. now i'm thinking there could be a bungee jump where you go over for a couple days and come back. >> if you're a market timer and you believe in your bungee do you think there's going to be an opportunity? >> absolutely. because i truly believe. the good news is, is this is setting ourselves up for true entitlement and tax reform in 2013. it could be six months from now. it could be a very difficult first six months. >> you're looking for a baby deal now? >> there's probably going to have to be a baby deal, partly because of amt. you cannot retro actively fix amt. that would hi
we don't have a plan in washington. nominal gdp growth is 4% which would be something like recession in any other time over the past 50 or 60 years. so you're already recession-like types of -- >> you mean nominal levels? >> nominal is, you know, real plus inflation. >> right. >> and the fiscal cliff business is a big deal. it's a potentially big game changer. i didn't think there was a chance we would go over really until the last couple of days. now i'm thinking there...
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Dec 11, 2012
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while washington quarrels with itself, time is slipping away. the only solution for our government to put differences aside and put real compromise on the table. rise beyond disparity. rise past adversity. rise above. this is a cnbc special report. mission critical. rise above dc. >> our special mission critical rise above dc coverage continues right now. all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms of some of the moments from this morning, senator mark warner from virginia saying compared to the size of our economy and the drastic steps that have been taken in other countries the current proposals are relatively small and government should just step up and get a deal done. senator bob corker, though, hesitant about signing any deal if there's not some sort of agreement about increasing revenue. he says there's no guarantee enough will be done about entitlements down the road. and as he looks in on the process, grover norquist maintains there's no better r
while washington quarrels with itself, time is slipping away. the only solution for our government to put differences aside and put real compromise on the table. rise beyond disparity. rise past adversity. rise above. this is a cnbc special report. mission critical. rise above dc. >> our special mission critical rise above dc coverage continues right now. all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms...
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Dec 5, 2012
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does anybody in washington think about spending and help the taxpayer? spending is going to get done and it is going to include spending. the question when those details come out is will the president face the problem on the left of trying to herd cats here. rather than focused on the priority. they are going to have to be part of this deal. so how obama manages the left is something that we are going to have to pay attention to as well. >> let's continue this discussion. here now is karen finney. we have david webb. let me go to you, guy benson. it sounded to me like president obama talking about tax rates. >> is this dead or still alive? >> it is still alive. and it is ugly. but the piece that you mentioned. setting aside some of the substance here. there is a new poll out today that shows the public unchanged. it has been that way for weeks now. they had a proposal and i think it is middle ground and they put it in a letter and leaked it to the press. i think you heard what you heard from the president all along. >> i have to say, i agree with guy. pa
does anybody in washington think about spending and help the taxpayer? spending is going to get done and it is going to include spending. the question when those details come out is will the president face the problem on the left of trying to herd cats here. rather than focused on the priority. they are going to have to be part of this deal. so how obama manages the left is something that we are going to have to pay attention to as well. >> let's continue this discussion. here now is...
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Dec 28, 2012
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just about the only thing going on in washington here today. if the white house knew that the president was not going to, making a new offer here today, a lot of the speculation that was going on early and mid-afternoon might have not been healthy necessary for the deal-making dynamic here, because a lot of people were speculating that in fact there was a deal, a mini proposal, something coming new from the president, and then we get to the meeting and find out, in fact, no new offer from the president, reiterating what he said last week on friday, so the speculation got well ahead of events here, and that sort of lends to an air of disappointment here in washington and up there on wall street. we still don't know what exactly happened in this meeting so we're waiting to find out. >> obviously the fiscal cliff is the crisis du jour, chad, were you saying you would prefer to use dips as opportunities. where do you think we will be 12 months from now? no doubt there will be another crisis that we're talking about in 12 months time. what it is we
just about the only thing going on in washington here today. if the white house knew that the president was not going to, making a new offer here today, a lot of the speculation that was going on early and mid-afternoon might have not been healthy necessary for the deal-making dynamic here, because a lot of people were speculating that in fact there was a deal, a mini proposal, something coming new from the president, and then we get to the meeting and find out, in fact, no new offer from the...
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Dec 26, 2012
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house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official told me that there have been no progress over the last couple of days, but an aide to senator harry reid told me there's still a 50/50 chance we get a mini deal that would put off the effects of the cliff at least temporarily and a 50/50 chance of that happening before january 1st. so even though there's a small number of days, sometimes the urgency of a deadline forces lawmakers to overcome differences they can't overcome otherwise. >> remind us, john, a mini deal is composed in the senate but still has to pass through house republicans and boehner or not? >> yes. and the
house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official...
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Dec 27, 2012
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what on earth is happening in washington, folks? when we run through what exactly no deal means for you step by step just how annoyed are you going to feel? lots of things coming up on ""street signs."" >> i'm annoyed, mandy. four days to go before america goes over the fiscal cliff. what does that really mean for average snerns how would going over the cliff affect you? jackie deangel lis is at cnbc hears. >> four days away, not a lot of time at all. a lot is at stake for all-americans if washington can't come to some sort of agreement before the deadline. while some groups will be impacted differently, the key here is that everyone will be paying more. consider those who make roughly $20,000 a year or less. they'll be paying on average $412 more. if your salary is in the $64,000 range, you're going to be paying almost $2,000 mosh. remember, that's why president obama was talking about my 2 k. he wanted to get the middle class to weigh in on the tax debate. that's how much they'll be paying. if you make a little bit over $100,000,
what on earth is happening in washington, folks? when we run through what exactly no deal means for you step by step just how annoyed are you going to feel? lots of things coming up on ""street signs."" >> i'm annoyed, mandy. four days to go before america goes over the fiscal cliff. what does that really mean for average snerns how would going over the cliff affect you? jackie deangel lis is at cnbc hears. >> four days away, not a lot of time at all. a lot is at...
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Dec 28, 2012
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what's hard is getting washington agree to it. that sound that you hear is the sound of thousands of reporters trying to read the minds of five people, the four congressional leaders and the president of the united states who are going to be in that room at 3:00 this afternoon. a whole lot of mind reading going on. not a whole lot of fact to work with. what i am told is if you want to understand where the president's brain is as he goes into this meeting today, you've got to look back at his remarks just after 5:00 p.m. on friday last week in which he laid out his vision for sort of a shorter term emergency kind of a deal. with that in mind, let me lay out what barack obama could propose in this meeting today if he lays something out. it would start with extending the tax cuts for those under 250, maybe 400 as some have said and up to $500,000. unemployment extenders for those on unemployment who face that being turned off at the end of the year. a medicare doc fix as they call it and a turnoff of the sequester in exchange for som
what's hard is getting washington agree to it. that sound that you hear is the sound of thousands of reporters trying to read the minds of five people, the four congressional leaders and the president of the united states who are going to be in that room at 3:00 this afternoon. a whole lot of mind reading going on. not a whole lot of fact to work with. what i am told is if you want to understand where the president's brain is as he goes into this meeting today, you've got to look back at his...
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Dec 29, 2012
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. >>> there is some action in washington tonight. at this hour the senate has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related spending items that are in the bill. typical sausage making for washington. >>> let's get to our panel. here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they'r
. >>> there is some action in washington tonight. at this hour the senate has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related...
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Dec 27, 2012
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starting with the budget crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish the names and addresses of thousands of private citizens who have legal gun permits. can the mainstream media still claim not to hate all gun owners after a stunt like this? "the kudlow report" starts right now. let's get the latest on the snag on the fiscal cliff talks and surprise news we are going to reach the debt ceiling in days instead of just a few months. john harwood has the details. what's going on? >> not a whole lot of actions going on. although there have been some developments. let me bring our viewers up to date on those. fir
starting with the budget crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish...
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Dec 27, 2012
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there's no resolution to the fiscal cliff out of washington yet. should we rule out any hope of a last-minute deal before year's end. texas senator kay bailey hutchinson joins us to give us their views. plus, we have a host of market experts weighing in on the odds of a u.s. debt down gradient if the u.s. can't get its house in order by next year. let's see if that will derail the housing industry that picked up steam this year. it's all ahead. mandy is joining me ahead for the last hour of the day on "closing bell." >> bill, thank you very much. >>> before we get to the secret stock, there it is, zesears. according to a republican house aid, the gop or the house will reconvene 6:30 p.m. on sunday night. so here we go, folks. you were talking about a potential last-minute deal. guess what, congress is still out. according to republican aid, they will be coming back to the house beginning a session at 6:30 sunday night. look at the markets. we're still down 99, folks. far right side of your screen. we are seeing a bit of a turn. we had the reid comm
there's no resolution to the fiscal cliff out of washington yet. should we rule out any hope of a last-minute deal before year's end. texas senator kay bailey hutchinson joins us to give us their views. plus, we have a host of market experts weighing in on the odds of a u.s. debt down gradient if the u.s. can't get its house in order by next year. let's see if that will derail the housing industry that picked up steam this year. it's all ahead. mandy is joining me ahead for the last hour of the...
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>> look, mandy, this is dysfunction palooza in washington. i've been talking about this since november. they can't get a deal done. they won't get a deal done. the market has been way too complacent. wall street, you were wrong. you were wrong. they are not going to get this deal done. the market is going to sell off chase to start 20 thrown. big >> it will continue to sell off. look, guys. here's the thing though. 25% right now of gdp is government spending. historically that's 20%. if there are going to be the spending cuts, that what we want to hear, john boehner. he's the adult in the room right now, guys and is looking like the bad guy because we have to stop the spending cuts. hitting the ceiling on the debt ceiling by monday. $16.3 trillion. you can't put a band-aid on this and suspect everything is going to be great and have howie mandel say deal or no deal. not good for the overall markets or economy. >> it's clear that revenue is not on the table. >> what do you do, run for the s? panic is not an investment strategy. give us some go
>> look, mandy, this is dysfunction palooza in washington. i've been talking about this since november. they can't get a deal done. they won't get a deal done. the market has been way too complacent. wall street, you were wrong. you were wrong. they are not going to get this deal done. the market is going to sell off chase to start 20 thrown. big >> it will continue to sell off. look, guys. here's the thing though. 25% right now of gdp is government spending. historically that's...
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thanks, guys. >> there was another surprise coming out of washington today. the unexpected resignation of ep achieve lisa jackson. why is she lng now? is this good news for coal miners, frackers and the keystone pipeline and we're about to get more on that story just ahead. >> don't forget, free market capitalism is the best path to prosperity and not crushing regulations. the kudlow report is coming right back. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. this is how mommy learned... ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> breaking news now. the associated press reporting that retired general norman schwarzkopf one of the heroes of the first gulf war has died in tampa, florida. he w
thanks, guys. >> there was another surprise coming out of washington today. the unexpected resignation of ep achieve lisa jackson. why is she lng now? is this good news for coal miners, frackers and the keystone pipeline and we're about to get more on that story just ahead. >> don't forget, free market capitalism is the best path to prosperity and not crushing regulations. the kudlow report is coming right back. mine was earned off vietnam in 1968. over the south pacific in 1943. i...
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Dec 27, 2012
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>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is not an immaterial risk. positioning portfolios, this is not an environment to hide and cash in treasuries but not blindly buy any and all equities out there, you pick the risks you take, buy quality dividend companies to protect those portions of your portfolio you're taking some equity risk with. use covered calls and sell options to cap your upside but give you extra cash flow in the other two environments, then use other defensive mechanisms, risk taking but still defensive in orientation. high yield bonds, bank loans, sovereign debt in the emerging markets getting 5-7% interest payme
>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is...
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yes, milk cliff in 1929 a farm law was passed that had washington buy milk at inflated prices. if there's not a move to get a new bill, we'll all pay the price. phil is joining us. how much could a gallon go up to? >> well, mandy, you're right. it could go up probably $3 a gallon. it's not just about a milk cliff. while everybody is talking about the fiscal cliff, there's a farm cliff. secretary vilsack has been calling on the industry, calling on the senate and congress for months to avoid this problem because if the farm bill expires, we've got some real issues. >> so what do you think we should do, phil? what's the solution? >> well, bottom line is we've got to get everybody in washington to wake up. the senate passed it. the house ag committee passed it, but, you know, the house has really not allowed the debate to happen so as a result we've got all of this stuff happening and my fear is we're going to get lost. let's not forget, we've seen prices increase over the past two years dramatically, and especially after this summer's drought, prices went up even more. they're go
yes, milk cliff in 1929 a farm law was passed that had washington buy milk at inflated prices. if there's not a move to get a new bill, we'll all pay the price. phil is joining us. how much could a gallon go up to? >> well, mandy, you're right. it could go up probably $3 a gallon. it's not just about a milk cliff. while everybody is talking about the fiscal cliff, there's a farm cliff. secretary vilsack has been calling on the industry, calling on the senate and congress for months to...
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to be watching the news out of washington. we're going to be watching the vices to get a gauge of good opportunities to buy high quality dividend-paying stocks. >> okay. all right, brickland, going to have to be quick. what do you expect? >> i think data is on the sideline. all about the fiscal cliff. it's all about how the distrust in washington really makes some significant progress tomorrow. we need some movement from the president. we need some progress. so, we'll have our keen eye on that and more importantly, we'll have our keen eye on discussions surrounding the 2% payroll tax cut which has been quite absent. so, hopefully tomorrow we'll see some sort of progress on that front. >> all right, gentlemen, thank you both for, all three for joining us today and we will watch very carefully. tomorrow could be very, very interesting. that does it for us. thank you for watching. >> indeed. "fast money" starting right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here are tonight's t
to be watching the news out of washington. we're going to be watching the vices to get a gauge of good opportunities to buy high quality dividend-paying stocks. >> okay. all right, brickland, going to have to be quick. what do you expect? >> i think data is on the sideline. all about the fiscal cliff. it's all about how the distrust in washington really makes some significant progress tomorrow. we need some movement from the president. we need some progress. so, we'll have our keen...